10 Ways to Improve Your Next CX Survey

10 Ways to Improve Your Next CX Survey

Surveying has been around a long time. Before we had web analytics, social media, or data warehouses, we had surveys. With today’s technology, brands can be connected to their customers like never before. Yet despite this world-shaking shift into the digital age, for many customer experience practitioners (us included, we fully admit!), surveying still remains a favorite method of data...

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Next Generation: Voice of the Customer

Firms have an unprecedented ability to listen to and understand changing customer needs. Advanced technologies turn unstructured social media posts or contact center transcripts into meaningful and actionable insights. Predictive analytics hone the noise of billions of interactions into signals that can help firms avoid scaling costly mistakes and tap into emerging opportunities.…

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Photo Bill Pay: A Glossy New Mobile Banking Feature

In late January, First Financial Bank of Abilene, Texas, was the first bank in the United States to launch a new form of mobile banking: Picture Pay.  About a month ago, US Bank was the first major US financial institution to offer a similar solution called Photo Bill Pay. Like snapping a photo of a check you’d like to deposit, Picture Pay and Photo Bill Pay users can simply take a...

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Shifting customer and competitive dynamics pose new challenges, opportunities in banks’ search for non-interest income

In late 2010, West Monroe Partners worked with a mid-sized commercial bank to assess the viability of implementing a prepaid card product. The comprehensive product profitability model developed with the bank included the inputs of customer segmentation analysis and adoption forecasting, in addition to prepaid card vendor pricing structures to provide a comparable view of the proposed prepaid...

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Customers continue channel surfing. What are you doing to retain your insured?

Property and casualty insurance carriers are facing rapid and pervasive changes in how they acquire, retain, and grow customer relationships. Residual effects of the financial crisis, emerging competitors, changing demographics, and technology evolution are just some of the environmental factors forcing a shift within the industry. Customer retention becomes a central focus when designing...

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Are Excessive Couponing & Discounts Ruining Customer Experience?

Recessionary addiction to sales and couponing has business by the throat. Excessive discounting dilutes brand value, diverts attention from customer experience and gives the masses too much control in all the wrong ways. Ron Johnson’s limp out of the gate with JCPenney’s new pricing strategy reveals just how hard it is to loosen the digits of the consumer’s iron grip.…

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Email: marketing@westmonroepartners.com
222 W. Adams
Chicago, IL 60606
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